FAQs
Is the Awaed Albilad Account consistent with the sharia committee standards?The sharia committee of Bank Albilad has approved the product, and all Bank Albilad products are subject to their approval.
What are the available currencies to open Awaed Albilad Account?Available in Saudi riyals and US dollars.
This offer is valid until when?The special offer on the 3 months deposit is valid until 30-Sep-2024.Is this offer available for other Investment Tenors as well?No this offer of 6% per annum return is available for 3 Months Awaed Albilad Account only.
If I book on 30th Sep 2024 and rate changes later will my return be impacted?No if you book by 30th Sep 2024 for 3 months your return will be paid at an expected rate of 6%.Is it available in USD as well?No offer is only available on SAR deposit.If I deposit SAR 100,000 what is the return I should expect after 3 months?You will receive an expected return of SAR 1,500 after 3 months.
Can I cancel the deposit before completing 3 months?Yes you can cancel the deposit but no profit will be paid, you will only receive your investment amount back in your Current Account.Can I book multiple deposits and get the same offer?Yes you can book multiple 3 months deposits under Awaed Albilad Account and get 6% per annum expected profit rate.Is there any difference in return rates between the Investment Wakalah product and the Awaed Albilad Account?Yes, the Awaed Albilad Account Product will offer a higher rate of return than the Investment Wakalah Product
What is the minimum term for Awaed Albilad Account?The minimum term of Awaed Albilad Account is one month.
What is the maximum period for Awaed Albilad Account?The maximum period for Awaed Albilad Account is 24 months.
What is the expected profit that I can earn from Awaed Albilad Account?The expected profit rate in the Awaed Albilad Account varies according to the investment period and the amount.
What is the minimum amount required to open Awaed Albilad Account?One hundred thousand Saudi riyals / thirty thousand US dollars (SAR 100,000 or USD 30,000)
Who can open Awaed Albilad Account?Currently, any individual customer of AlBilad can open the Awaed Albilad Account through his account in Albilad App or Albilad Net and Albilad Branches.
Can the customer withdraw the Awaed Albilad Account before Maturity date?Yes, the customer can withdraw the amount in the Awaed Albilad Account before the specified maturity date, but there will be no profit paid to the customers.
Are there any fees for opening Awaed Albilad Account?Currently there is no fee.
What are the requirements for opening Awaed Albilad Account?You just need to have a current account with Bank Albilad.
Can I open more than one Awaed Albilad Account?Yes, it is possible to open up to 5 accounts in one day.
What is the difference between Awaed Albilad Account and Investment Wakalah ?
The Investment Wakalah product invests in assets exempt from zakat. The Awaed Albilad Account product invests in assets that are not exempt from zakat.
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